Mphasis and IIIT-B to incubate social projects

In addition to funding, IIIT-B will also provide focused mentoring services, logistics support and business network support for the incubatees.

Mphasis, a global technology services provider and International Institute of Information Technology (IIIT-B) have decided to fund and support social enterprises.

The two organisations have signed a Memorandum of Understanding (MoU) wherein IIIT-B would leverage a portion of Mphasis’ Corporate Social Responsibility (CSR) funds for supporting social enterprises.

IIIT – B will invest and nurture social enterprises that are in line with Mphasis’ CSR focus areas such as education, employability and entrepreneurship.

In addition to funding, IIIT-B will also provide focused mentoring services, logistics support and business network support for the incubatees.

IIIT-B has so far incubated 12 ideas and currently supporting six companies in the areas of education, healthcare and energy.

Mphasis believes that, thriving social entrepreneurship ecosystems are integral to addressing some of the development challenges.

In keeping with its brand promise of ‘Unleash the Next’, it has been relentlessly looking for opportunities to support promising, disruptive social enterprises through reputed incubators.

“IIIT-B works in partnership with the corporate sector on education and entrepreneurial initiatives. Through this partnership with Mphasis we look to provide technology, management and financial inputs to help inspire innovators to bootstrap their technology ventures. With the innovative and inclusive CSR policies of Mphasis, we look to reach out to more eligible and aspiring people” says, S. Sadagopan, director, IIIT-B.